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December 20, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Spokane, Business Loans > Inland Northwest Bank Spokane Business Loans > Automotive Mechanical And Electrical Repair And Maintenance Loan | ||||
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Raising Money in Spokane, Washington With SBA Loans
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Company Gets a Washington Business LoanLooking to get a Washington SBA loan? This Washington entrepreneur got an SBA loan, provided by a Washington bank that works with the SBA to help small business owners. By giving the right information to Inland Northwest Bank, this Spokane, Washington business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE SBA Loan Lender INLAND NORTHWEST BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 9/19/2002 Loan Approval Gross Amount $126,600 Loan Approval from the SBA Of the total $126,600 loan amount, the SBA guaranteed $107,610. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you have been wondering how do i get money to start a business in Spokane WA, you ought to talk with a local Spokane SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Spokane businesses. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Realistic Debt Financing Options SBA 7A Banks in Spokane, Washington
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